HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported a loss of $9.1 million in its fourth quarter.
On a per-share basis, the Houston-based company said it had a loss of 2 cents.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The provider of onshore contract drilling services posted revenue of $1.15 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.1 billion.
For the year, the company reported a loss of $93.6 million, or 24 cents per share. Revenue was reported as $4.83 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PTEN at https://www.zacks.com/ap/PTEN
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